
Billie
Morris,
CRS
Tax Information
Please talk to a trusted accountant, lawyer or financial planner. Every transaction is subjective and requires careful planning. I hope these links will give you a foundation for your individual questions. Check out this IRS list of frequently asked questions you can download. Look at IRS tax tables or search for specific questions and answers from the IRS. Take a look at Home Gain Exclusion, if you sold or exchanged your home, you may be allowed to exclude up to $250,000 of gain ($500,000, for certain married taxpayers filing a joint return) realized on the sale or exchange of your main home. Lawyers Title Company offers services for a tax deferred exchange. This has become popular with commercial and investment real estate transactions. You may want to read about defining basis, depreciation or installment sales. There is a wealth of information here. Apply this knowledge to your own situation and get professional guidance. |
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EMAIL:
billiem@salisburyhomes.com
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All Information deemed reliable but not guaranteed Copyright
1997 - 2003 Billie Morris,CRS. All rights reserved. |